Swedish ASIC miner company kncminer.com

[soy]

It seems like the days of the solo miner are quickly disappearing.  The big money has moved in, and the hardware companies are either failing or changing their business plan to the detriment of the individual miner

Ah, the way of the world.  I think FDIC followed the great crash and depression, insurance against banks failing.  But under Bush the rules about failing banks changed to have certain risky bank investments paid off by FDIC before individual savings account holders get to get any, and those risky investments of a volume to break FDIC so essentially an individual savings account holder would get squat if the bank failed.

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[Phoenix1969]

I just received an invoice for the first Neptune via E-mail, in PDF form

[jelin1984]

What email you had cancel the Neptune

[Phoenix1969]

No, I had 5 Neptune orders, and had refunded the two 13k (Gen Batch 1), and kept the 3 "CA Batch" Neptunes, which were sold  here in this thread to two members.  I got a single invoice, for the first neptune... "Out of the blue", no I did not ask for the invoice. It was meant to be informative in the possibility everyone who has the Neptune orders may get some invoices, that's all. An invoice is a receipt.(someone pm'd me not knowing)  I emailed them back asking about the other two orders, but since it's the very 1st Neptune, they probably haven't had time to do the rest yet. (It's like 11pm there also) Please don't read anything more or less into the statement. 5 pm's in as many minutes makes it difficult to share such a simple statement.... no worries tho.

[OmegaCentauri]

So I asked them.  I emailed them some questions and this is the response. I received the response from Keith Gurnett

Q3. Have you been manufacturing 28nm Miners all the time since you stopped the last batch of November Jupiters?
A3. No, we are creating the data center now for "Plan B" as a back up to be used if there are any delays with the Neptune production.

Q4. If so, have you been mining with the 28nm miners manufactured since November?
A4. We are mining, but we have not exceeded the 5% of the hash rate which has been released.

Q7. What date will you start offering to convert non-delivered Neptunes into hosted 28nm, and how much will be exchanged?
A7. Like above, if there are any delays customers will be provided with the hosted hash rate.

So... if they cessated manufacturing of 28nm jupiter modules; what exactly is powering the creation of their "World's largest" 28nm mining farm? Unicorn hashers?
If they haven't been manufacturing more 28nm jupiter modules, then just how many thousands did they hoard since the last sale in November? 

[The Avenger]

Q3. Have you been manufacturing 28nm Miners all the time since you stopped the last batch of November Jupiters?
A3. No, we are creating the data center now for "Plan B" as a back up to be used if there are any delays with the Neptune production.

So they are creating one of the "world’s largest data centres" near the North Pole and filling it with 18000+ Jupiters, just in case they need to give that hashing power to their neptune customers if there are any delays. Very thoughtful.

And if they do deliver neptune on time, they'll just send these 18000+ Jupiters to be melted down as scrap metal? No need for these any more and we wouldn't want to break our 5% promise.

Nothing wrong here, seems legit.

[MrPresident]

So, they should only sell to Avenger.... and me....   lol     
What do you expect them to do? (seriously)
If you were them....    ? 
Knowing Neptune is going to be late....

[The Avenger]

I'm just playing with the numbers here. So if knc can create a Jupiter at cost for $1000, they need $18million to produce 18000 Jupiters.

Are they going to build or rent their datacentre?

BUILD:
Can they build something that big, wire it and kit it out with 18000 Jupiters by July 1st? No way.

If they did though, how much would it cost? Quite a few extra million I'd say. As it's near the Arctic Circle, you'd have to say it's damn expensive. Another $10 million?

Where are they getting the $28 million from? They only took $44 million in Neptune sales and people are queuing up for refunds.

RENTING:
Renting seems cheaper and more plausible option. But is there enough free data centre space to rent in the Arctic Circle for 18000+ Jupiters?  


I guess the next knc announcement is they are building a spaceship going to the moon. Payment in Bitcoin (No Litecoin, No Doge's allowed).

[MrPresident]

 On that...   From the newsletter...
"It is located in the north of Sweden not far from Facebook and other Mega Data Centres and it’s totally powered by renewable energy."

Just guessing here, but there's probably more than one advantage to that loacale

[sanos51ck]

What do you expect them to do? (seriously)
If you were them....    ? 
Knowing Neptune is going to be late....

Refund with interest is out of question?

[The Avenger]

On that...   From the newsletter...
"It is located in the north of Sweden not far from Facebook and other Mega Data Centres and it’s totally powered by renewable energy."

Just guessing here, but there's probably more than one advantage to that loacale

Luleå

Average yearly temp is 1degC. Cheapest electricity in Europe. Hydro.

http://thenodepole.com/latest-press-releases/information-about-lulea/

[MrPresident]

What do you expect them to do? (seriously)
If you were them....    ? 
Knowing Neptune is going to be late....

Refund with interest is out of question?

and then just mine for themselves? Great Idea....!

[davebodger]

On that...   From the newsletter...
"It is located in the north of Sweden not far from Facebook and other Mega Data Centres and it’s totally powered by renewable energy."

Just guessing here, but there's probably more than one advantage to that loacale

Luleå

Average yearly temp is 1degC. Cheapest electricity in Europe. Hydro.

http://thenodepole.com/latest-press-releases/information-about-lulea/

Yea, as soon as they said "near Facebook" it was obvious, I googled it days ago, it's the only game in the area.

Datacentre's were my job. I'm retired now but if you want any background info, just ask.

They will most likely have bought a pre-built shell. Slab, structure and main services in place (saves you two years construction time).
They could have it up and running inside 6 months if they throw enough money at it.

[DPoS]

On that...   From the newsletter...
"It is located in the north of Sweden not far from Facebook and other Mega Data Centres and it’s totally powered by renewable energy."

Just guessing here, but there's probably more than one advantage to that loacale

Luleå

Average yearly temp is 1degC. Cheapest electricity in Europe. Hydro.

http://thenodepole.com/latest-press-releases/information-about-lulea/

good if it is so cheap BTC can go down to $10

[helmax]

now nobody say The Avenger is wrong

knc is kidding with our money

a long time i have saying that
 but people are blind

[wasubii]

I hope BTC goes down to $10 and stays there. Just for the lulz.

It would still perfectly fulfil its role of transferring money at $10 as it does at $1000

And KnC will be stuck with a white elephant in the arctic circle

[Biodom]

I played with mining.thegenesisblock.com calculator
The only way this would be profitable in $$ terms (forget about bitcoin!) would be if bitcoin price rise to at least $1500 and mining starts in April or price to $2500 and mining in May or price to $4000 and mining starts in June. All of this with 72% difficulty rise in a month that we are currently at (for the last 3mo on average).

[DPoS]

I hope BTC goes down to $10 and stays there. Just for the lulz.

It would still perfectly fulfil its role of transferring money at $10 as it does at $1000

And KnC will be stuck with a white elephant in the arctic circle

exactly..  crash the price, pump the utility

[The Avenger]

now nobody say The Avenger is wrong

It's like Gandhi said:

First they ignore you,
then they ridicule you,
then they fight you
then they send you massive BTC donations, for saving them from losing their entire life savings on a pipe-dream private bitcoin empire in the arctic circle.

Yeah, I'm pretty sure that's what Gandhi said 

[davebodger]

now nobody say The Avenger is wrong

It's like Gandhi said:

First they ignore you,
then they ridicule you,
then they fight you
then they send you massive BTC donations, for saving them from losing their entire life savings on a pipe-dream private bitcoin empire in the arctic circle.

Yeah, I'm pretty sure that's what Gandhi said 

Yea, word for word, I was there.